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AUD/USD

  • #38,241
  • Dec 29, 2011 6:55pm Dec 29, 2011 6:55pm
Quoting redteamgo
goodbye 61.8%.

im about to get stopped out
FUCK

i got my ass handed to me on this pair today. im fucking done with AUD for a while
Any prices quoted are futures
  • #38,242
  • Dec 29, 2011 7:09pm Dec 29, 2011 7:09pm
why did you short this pair? retailers keeping shorting into strength. Look at how much it fell compared to eu, only half and its back to where it started, that should have gave you a hint to buy the dips, i've been saying it for the last while that a major bull is coming seems noone listens
  • #38,243
  • Dec 29, 2011 7:19pm Dec 29, 2011 7:19pm
Quoting sidhujag
why did you short this pair? retailers keeping shorting into strength. Look at how much it fell compared to eu, only half and its back to where it started, that should have gave you a hint to buy the dips, i've been saying it for the last while that a major bull is coming seems noone listens
ive been short since december 8th. missed two good opportunities to unload plus ive been paying swap interest for 21 fucking days. wont make this mistake again that is for sure.
Any prices quoted are futures
  • #38,244
  • Dec 29, 2011 7:23pm Dec 29, 2011 7:23pm
yea they made it look like its a sell because it was falling as everything else was rising, I know where you come from but thats the typical game of the market. I wouldn't be surprised now to see it turn around and be the weakest trending pair... only after maximum margin calls. AU really is a bitch the only way to trade it is to go long during high stoppign volume and set SL to BE and earn your interest...
  • #38,245
  • Dec 29, 2011 7:25pm Dec 29, 2011 7:25pm
Quoting rafiqhidayat
Arggh..

There are reasons why one should never trade when they just woke up...

Wanted to buy 0.01 lot, ended buying 1 lot... and had to close it because was way out of my risk mgmt capabilities.

Lost the last 1 1/2 weeks of profit.... grrrrr...
Poor guy.. try to get recovered from Gold.. Currently entering buy @ 1554.20 close @ previous d high
  • #38,246
  • Dec 29, 2011 7:37pm Dec 29, 2011 7:37pm
Quoting redteamgo
ive been short since december 8th. missed two good opportunities to unload plus ive been paying swap interest for 21 fucking days. wont make this mistake again that is for sure.
Sorry to hear that this pair tore you up this past week. No worries though...I'm sure you'll be able to jump back up on the horse and kick some butt! If I may include my Daily TF chart below. A new "green" shade has appeared and with the last candlestick fully formed this pair should see higher highs and higher lows going forward.

Best of Luck to you in the New Year!
Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 97 KB
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #38,247
  • Dec 29, 2011 7:56pm Dec 29, 2011 7:56pm
Quoting sidhujag
yea they made it look like its a sell because it was falling as everything else was rising, I know where you come from but thats the typical game of the market. I wouldn't be surprised now to see it turn around and be the weakest trending pair... only after maximum margin calls. AU really is a bitch the only way to trade it is to go long during high stoppign volume and set SL to BE and earn your interest...
seriously. i wouldnt be complaining but i ruined my basis on a dumb trade in the 9940s last week. so stupid. now i'm fluttering around near b/e on what was 3ish cent profit

thankfully i still have a great EUR/USD trade


Quoting MarcVUM
Sorry to hear that this pair tore you up this past week. No worries though...I'm sure you'll be able to jump back up on the horse and kick some butt! If I may include my Daily TF chart below. A new "green" shade has appeared and with the last candlestick fully formed this pair should see higher highs and higher lows going forward.

Best of Luck to you in the New Year!
thanks. i agree with your assessment as of now. this is my own fault right now though. i suppose i was chasing an overaggressive target.
Any prices quoted are futures
  • #38,248
  • Dec 29, 2011 8:01pm Dec 29, 2011 8:01pm
Quoting redteamgo
seriously. i wouldnt be complaining but i ruined my basis on a dumb trade in the 9940s last week. so stupid. now i'm fluttering around near b/e on what was 3ish cent profit

thankfully i still have a great EUR/USD trade




thanks. i agree with your assessment as of now. this is my own fault right now though. i suppose i was chasing an overaggressive target.

That's good you learned, I think its a prime example of taking calculated risk instead of biased oppinion on movement. It's something we all have problems with but once you say take that 10:1 r/r trade and it hits your SL, you move on and don't try to avenge the loss, over time you will win. If you let the loss ride, thats what the market wants. It will happily take your money and is reluctant to give it up.
  • #38,249
  • Dec 29, 2011 8:18pm Dec 29, 2011 8:18pm
I am in the same postion as reteamgo minus any good trade. Everything is red. I have been trading for two months and things are not great. I am wondering if anyone can help. Do you thing I should hold if I have the money to ride the wave? Do you think that in few days, week this pair will be bearish? Thanks
  • #38,250
  • Dec 29, 2011 8:47pm Dec 29, 2011 8:47pm
Quoting auyong
I am in the same postion as reteamgo minus any good trade. Everything is red. I have been trading for two months and things are not great. I am wondering if anyone can help. Do you thing I should hold if I have the money to ride the wave? Do you think that in few days, week this pair will be bearish? Thanks
hi,

if you're in red that means you didn't use stop loss? i'm still a newbie but i've learned the hard way few months ago w/o using stop loss.

it's hard to say where the market is heading.
  • #38,251
  • Dec 29, 2011 8:53pm Dec 29, 2011 8:53pm
There's been a nice divergence occurring on the 4HR on my charts. If price can confirm that a reversal is going to take place then I will short since the dollar seems to be making its way up. But only time will tell.. I'm on the sidelines at the moment
  • #38,252
  • Dec 29, 2011 8:54pm Dec 29, 2011 8:54pm
Quoting auyong
I am in the same postion as reteamgo minus any good trade. Everything is red. I have been trading for two months and things are not great. I am wondering if anyone can help. Do you thing I should hold if I have the money to ride the wave? Do you think that in few days, week this pair will be bearish? Thanks
iF you are still in it it will probably be bull, better to cut your loss, it will only stop once you are margin called.

Most retailers think the same, I thought at 9980 AU was a good sell but took a 100 pip loss. If I had held I would have got nicely screwed. You have held and it will keep going until it hits your margin call and then will reverse around that area. (the theory is most retailers are thinking the same thing, the market sets up fake signals that get retailers in, and then takes the ones with bad money management for a ride), usually retailers are greedy and use big lot sizes according to their balance and will generally be in a margin call scenario after 200-300 pips.
  • #38,253
  • Dec 29, 2011 8:56pm Dec 29, 2011 8:56pm
Quoting Dyekid217
There's been a nice divergence occurring on the 4HR on my charts. If price can confirm that a reversal is going to take place then I will short since the dollar seems to be making its way up. But only time will tell.. I'm on the sidelines at the moment
this pair is not part of the dollar index, beware of taking a trade based on a signal on the dollar index, last time a swing occured on AU it went the opposite way of the dollar index.
  • #38,254
  • Dec 29, 2011 8:58pm Dec 29, 2011 8:58pm
I didnt put SL s because there were a few times where Sl s were hit but rebounced very quickly so ................ thanks... for the reminder.
  • #38,255
  • Dec 29, 2011 9:42pm Dec 29, 2011 9:42pm
Quoting auyong
I didnt put SL s because there were a few times where Sl s were hit but rebounced very quickly so ................ thanks... for the reminder.
Perhaps u should try to enter at the RIGHT time.. Trade safely on any pair, when it hits all time low (last night EUR/JPY @100.05 you can try to enter long @100.10) or wait for AUD hit the all time high @1.1079 you can try to set pending order sell @ 1.1050 that way you can win easily at relatively very low risk. Cheers.
  • #38,256
  • Dec 29, 2011 9:43pm Dec 29, 2011 9:43pm
Quoting sidhujag
this pair is not part of the dollar index, beware of taking a trade based on a signal on the dollar index, last time a swing occured on AU it went the opposite way of the dollar index.
can u explain why it isn't? I'm looking at the index of the aud right now and they are mirror images compared to aud/usd.

Does the dollar index not have much play in this pair?
  • #38,257
  • Dec 29, 2011 9:47pm Dec 29, 2011 9:47pm
Quoting Dyekid217
can u explain why it isn't? I'm looking at the index of the aud right now and they are mirror images compared to aud/usd.

Does the dollar index not have much play in this pair?
its the EUR/JPY/GBP/CAD/SEK/CHF, no AUD or NZD (export commodity based).

I remember last time AU was falling USDx was rising. It was out of correlation but made sense since its not part of AU, only thing that keeps them in line is the fact that AU is trading against USD, so there may be correlation with EU/GU etc, but these are not normal times. Dump EU and buy AU for yield until next interest rate decision.
  • #38,258
  • Dec 29, 2011 10:27pm Dec 29, 2011 10:27pm
Quoting rustyram
AUD is poised to take out the previous high 1.0205, and then form 15 min - wave 1, looks like it should get to 1.04/1.05 area pretty quickly.

I would not be surprised to see if AUD closes above 1.02 before the year end, DOW and Gold everything is going to finish positive for year 2011, why not AUD.
I am thinking of getting out at 1.0420 for my current long on AUD.
I am seeing this move from 1.0040 to 1.0420 as 15 min waves
So it should get there faster, if the trend is up, wont it go 300 Pips on a single day ?

After taking out previous daily high 1.038, it should retrace...

Guys, what are the profit level you guys have for AUD longs.
PPP - Patience Pays PIPS
  • #38,259
  • Dec 29, 2011 10:34pm Dec 29, 2011 10:34pm
Quoting sidhujag
its the EUR/JPY/GBP/CAD/SEK/CHF, no AUD or NZD (export commodity based).

I remember last time AU was falling USDx was rising. It was out of correlation but made sense since its not part of AU, only thing that keeps them in line is the fact that AU is trading against USD, so there may be correlation with EU/GU etc, but these are not normal times. Dump EU and buy AU for yield until next interest rate decision.
Precisely.. agree with you. I would happen on February 7th 2012.. Till that time this pair could go anywhere to 1.0750
  • #38,260
  • Dec 29, 2011 10:38pm Dec 29, 2011 10:38pm
Quoting rustyram
I am thinking of getting out at 1.0420 for my current long on AUD.
I am seeing this move from 1.0040 to 1.0420 as 15 min waves
So it should get there faster, if the trend is up, wont it go 300 Pips on a single day ?

After taking out previous daily high 1.038, it should retrace...

Guys, what are the profit level you guys have for AUD longs.
First target is 1.028 offcourse
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